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Insights: Insolvency practitioners

Confirmed increases to official receiver deposits

The Insolvency Service announced on the 5th September that it would be increasing the Official Receiver's Deposit on all creditor instigated bankruptcy and compulsory liquidation proceedings.

Expiry of winding up restrictions

After a very long wait for creditors during a difficult economic period, the restrictions placed on Winding Up actions, introduced in response to the Covid-19 pandemic, have expired on 31 March 2022.

Corporate insolvencies update

With restrictions now eased we are perhaps beginning to see the cost and effect of the pandemic on businesses starting to emerge, with the total number of corporate insolvencies now back at levels similar to those we saw pre-pandemic.

Government presses on with its Apprenticeship Levy plans

In line with its commitment to implement new apprenticeship arrangements from next May, a raft of documentation was published on 25 October 2016 on GOV.UK. Publications from the Department for Education (DfE) and the Skills Funding Agency (SFA) set out in considerable detail how levy and apprenticeship training will interact as the Government looks to drive up both quality and quantity in apprenticeships.